WION Web Team New Delhi, Delhi, India
Jan 23, 2018, 10.43 AM
The BSE Sensex on Tuesday BSE Sensex breached the 36,000 level mark to end at an all-time high at 36, 140 after the International Monetary Fund said India would regain the title as the world's fastest growing major economy in 2018-19.
The NSE Nifty also reached the 11,000 mark and ended 1 per cent higher led by the metal, PSU bank stock.
The broader Nifty closed up 1.07 percent at 11,083.70, while the benchmark Sensex ended 0.96 percent higher at 36,139.98 or 36, 140.
Both the indexes posted record closing highs for the fifth straight session as strong earnings results buoyed investor sentiment.
Force Motors Ltd reported a net profit RS14.65 crore in the December 2017 quarter compared to a profit of Rs23.25 crore a year ago. Revenue from operations stood at Rs750 crore in the third quarter, up from Rs716 crore last year. Shares traded 1.98% up at Rs3360.
Oil and Natural Gas Corp. Ltd has received approval from the government to sell its stake in Indian Oil Corp. Ltd and GAIL India Ltd to help fund the Rs36,915 crore acquisition of Hindustan Petroleum Corp. Ltd. ONGC shares rose 3.53% to Rs207, whereas HPCL shares dipped 1.94% to Rs393.95.
The Indian rupee strengthened marginally against the US dollar as local equity markets continued to hit fresh record highs. At 2.10pm, the home currency was trading at 63.83 a dollar, up 0.10% from its Monday’s close of 63.87.